Business Irish

Monday 20 February 2017

First Derivatives revenue soars 41pc

Published 17/05/2016 | 07:55

Brian Conlon of First Derivatives
Brian Conlon of First Derivatives

Newry-based fintech company First Derivatives posted a 41pc rise in revenue in its last financial year, taking in £117m.

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Adjusted pre-tax profit rose 56pc to £16.8m.

Chief executive Brian Conlon said the increases were fuelled by positive market conditions and the benefits of prior investment.

The company provides a range of products to the capital markets industry. Its Delta Surveillance product helps guard against suspicious trading.

The product was taken up by IEX, a upstart trading platform that was the subject of well-known financial author Michael Lewis's 'Flash Boys'.

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